Year End Accounts
Every limited company must prepare, approve and submit annual accounts to HMRC and Companies House. Tightly controlled deadlines will mean fines for delayed submissions. The layout of these accounts is strictly structured and accounting treatments are different to those of Partnerships or Sole Traders.
On completing your annual accounts, we not only ensure you meet UK statutory requirements, but also provide a useful business tool that will assist you in the running of your company.
By becoming more involved on an outsourced basis, we reduce the time we have to spend on the year end, as well as the cost.
Unfortunately statutory deadlines and filing penalties are around but they are all part of the year end accounts process.
Failure to submit your accounts on time to Companies House can result in a fine starting at £150.00 and rising to anything up to £1,500.
Incorporated companies are required to file their abbreviated accounts to Companies House within nine months of their accounting year end (For newly incorporated companies, the first filing deadline with be 9 months from the 1 year anniversary of your date of incorporation). This means you have nine whole months to get your records together, seems like a long time doesn’t it, but when you’re running a business this time can fly by and before you know it there is only a month to go.
Hand your records over to us, it doesn’t matter what your records look like, as long as we receive them within at least a month of your statutory filing deadline we will ensure that your filing deadline is met.
We will not only prepare your accounts, we will review with you how your business is performing and, if needed, provide tips and suggestions on how you can improve and perfect your current bookkeeping systems to make it work for you and again saving your business unnecessary costs.
If this is something you would like help with please call or email Charlotte today to see how she can help you business.